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What Are Political Contribution Disclosures?

Under its pay-to-play rules, the MSRB requires municipal securities dealers and municipal advisors to disclose information in connection with certain political contributions they make to officials of municipal entities, state and local political parties, and bond ballot referendum committees.

  • Accessing Political Contribution Disclosures

    The MSRB makes political contribution disclosure documents available to the public on EMMA. Enter a dealer or municipal advisor’s name to access information about contributions made to officials of municipal entities by the regulated entity, its municipal professionals and related political action committees (PACs).

    Search for political contribution disclosure documents here
    Other federally filed information on political contributions

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  • What Information Does a Political Contribution Disclosure Provide?

    Quarterly reports on Form G-37 submitted by municipal securities dealers and municipal advisors disclose certain contributions to officials of municipal entities, payments made to political parties of states or political subdivisions, and contributions made to bond ballot campaigns made by:

    • Dealers
    • Municipal finance professionals and non-MFP executive officers of a dealer
    • Political action committees controlled by dealers or their municipal finance professionals
    • Municipal advisors
    • Municipal advisor professionals and non-MAP executive officers of a municipal advisor
    • Political action committees controlled by municipal advisors or their municipal advisor professionals

    Regulated entities must also report municipal entities with which they have engaged in municipal securities business or municipal advisory business.

    A limited number of dealers also have submitted quarterly reports on Form G-38t that include information about transitional payments solely for past services provided by consultants, including compensation arrangements, municipal securities business obtained, payments pending, and reportable political contributions and political party payments.

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